Icici Staregy

ICICI Banks Strategy for Promotion of Financial comprehension Introduction People from low-income groups live in high-risk and freakish environment, making access to pecuniary expediencys vital for their sustenance. relations with life cycle events, emergencies and planning for future ar virtually aspects in which financial intervention can help. A large-mouthed part of this financially under-served segment resides in rural India. integration of rural India into economic mainstream will boost rural category incomes and have a multiplier effect on the learn for goods and services across the economy while promoting financial inclusion. However, considering the limpid size of the population and the geographic spread, neither the existing blaspheme branch based infrastructure nor the standard financial products are optimal to meet the financial needs of the rural populace. Seasonality in income, coupled with dependence on weather, necessitates creation of financial products that justify such risks. At the same time, traceable credit histories need to be built that will help in designing products that meet needs such as housing, health, education, child caveat etc. Further, varying financial needs of different customer segments viz. manual labourers, farmers, traders, and rural entrepreneurs calls for customised financial products.

Focus on Underserved Segments ICICI Bank has taken up specific initiatives to ramp up financial literacy as well as intermediation to the underserved and underbanked segments in both rural and urban areas. Customers Financial Behaviour In the absence of a formal Credit Bureau, extending financial service to low income segments becomes a challenge. To overcome this challenge, ICICI Banks financial intermediation models, both through the microfinance institutions and business correspondents have been designed to build a repository of information with regard to financial behavior of the customers. Through Financial Information Network and trading operations Limited (FINO... If you want to get a full essay, establish it on our website: Orderessay

Order your essay at Orderessay and get a 100% original and high-quality custom paper within the required time frame.